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off the fiscal cliff.. with the deadline just 4- days away. the president and congressional leaders met at the white house for more talks. stacey cohan has the latest. >> president obama is saying that he is out of patience and he is urging congress to do its job. i >> what ever we come up with, it is not going to be perfect and did not everybody is going to like it. >> house speaker john peter does not want to bring anything to congress until it is passed by the house. those tax cuts are expected to expire house speaker john boehner does not want to bring anything until it is passed by the house. >> these everyday workers are going to be paying the price for all of not being able to get anything done. >> catherine: after a break in the rain.yet another round is this is a live look at conditions in san on van ness avenue. i'm in the weather center with jacqueline - who has been tracking this latest >> jacqueline: it has been a bit deceiving. but we are finally seeing rain hit the coast. half moon bay in the last one hour and a san francisco probably seen some sprinkles right now as
that remains before our economy falls off the fiscal cliff. tonight we're learning congressional leaders will convene at the white house tomorrow for last-minute talks to avoid tax increases and spending cuts. kron 4's justine waldman has details on negotiations. >> reporter: the economy is getting very close to falling off the fiscal cliff. though a last minute plan could be in the works. on friday, congressional leaders will meet with the president to discuss the standoff. obama and congressional democrats want a deal that would let tax rates rise for the wealthiest taxpayers. many republicans remain against any tax increases. the white house meeting would be the first time the president has huddled with all four november 16. the senate is back in session. majority leader harry reid is starting to sound pesimistic. >> reid: "i have to be very honest. i don't know how it can happen now." >> reporter: the house is still on christmas break. but will meet sunday evening, a little more than 24 hours before the "fiscal cliff" arrives. but it's not clear what legislation it might consider >>
a deal can be cut in time to avert the fiscal cliff. on saturday the president was at work here at the white house, but all eyes were up on the senate where negotiators were trading deal points and revenue figures, to try to reach an agreement all sides can stomach. the base line for the president - any bipartisan bill would have to extend unemployment insurance benefits that would affect some two million americans. and it would have to increase taxes on the highest income earners. but negotiators could still work out exactly where those tax increases would hit and whether they would halt an increase in the estate tax. now in case that deal breaks down, the president has asked democratic leader harry reid to prepare a separate bill to put on the senate floor. that bill would increase taxes for households that earn 250- thousand dollars or more. now that's a democratic proposal, and you can expect republicans would block it. so rather than thinking of that as a stop-gap measure, think of it as a political move to try to shift the responsibility of failure onto republicans just be
. with less than 48- hours until the u-s economy goes over what's being called the fiscal cliff - lawmakers are locked in a fierce face-off over a set of spending cuts and tax hikes. >>> "we're apart on some pretty big issues." "i'm willing to get this done, but i need a dance partner." >> reporter: on n-b-c's meet the press, president obama made a final pitch for his plan to preserve bush era tax cuts for everyone but the wealthiest americans. >>> "regardless of partisan differences, our top priority has to be to make sure that taxes on middle class families do not go up that would hurt our economy badly." >> reporter: a major sticking point continues to be the annual income level at which those tax increases should kick in. the threshold has wavered from 250-thousand dollars to as high as one-million dollars. republicans argue the country doesn't have a tax revenue problem, it has a spending problem. "unless we do something about spending, the government will continue to get bigger and the deficit will continue to get bigger." >> reporter: following the president's interview, speaker of t
Search Results 0 to 3 of about 4